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. >> in july 2010, president obama signed the dod-frank act. it addresses many of the regulatory lapses in the commodities market. among other things, it limits the amount of commodity futures that speculators can hold. it makes it easier for the commodities future trading commission to investigate suspected market manipulation, and it empowers the agency to regulate energy derivatives, which enron used to drive up the price of electricity in california. [ticking] coming up, a herculean effort to find oil in a desert wilderness. >> the logistics are impossible. the first thing we had to do is build our own road in order to access this field. >> just to get here. >> just to get here. once that was done, we had to remove 100 million cubic feet of sand just to make the runway. >> that's when 60 minutes on cnbc returns. [ticking] two years ago, the people of bp made a commitment to the gulf. and every day since, we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover
. >> in july 2010, president obama signed the dod-frank act. it addresses many of the regulatory lapses in the commodities market. among other things, it limits the amount of commodity futures that speculators can hold. it makes it easier for the commodities future trading commission to investigate suspected market manipulation, and it empowers the agency to regulate energy derivatives, which enron used to drive up the price of electricity in california. [ticking] coming up, a herculean...
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Oct 1, 2012
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and the market may or may not be pricing in an obama re-election. that's all going to potentially change during the debates. it will either go higher or lower. i think at the end of the day, the election is a short term mover of the marketplace and we would look for that volatility to add positions that we have a lot of conviction in. >> we've got to leave it there. tom, leo, thank you very much for kicking off our show. >> thank you very much. >>> so, what are you, america, doing with your money. how are you changing your investments, your 401(k). right? a lot? a little? not at all? we make our tests hard here on street signs. you can go to streetsigns.cnbc.com. or tweet us your responses or send a very well trained pigeon. >> yes. >>> a market flash not delivered by pigeon but by word of mouth. >> good afternoon, guys. we're watching shares of service now, ticker now. looking at a downgrade from ubs. they took the stock from neutral to sell with a price target of $28. the firm is saying while they aren't questioning the strong fundamentals, they d
and the market may or may not be pricing in an obama re-election. that's all going to potentially change during the debates. it will either go higher or lower. i think at the end of the day, the election is a short term mover of the marketplace and we would look for that volatility to add positions that we have a lot of conviction in. >> we've got to leave it there. tom, leo, thank you very much for kicking off our show. >> thank you very much. >>> so, what are you,...
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Oct 5, 2012
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that's not right to pay for obama care. and also got point to out that he's in favor of a tax plain that will kill 700,000 jobs. and so he had the chance to answer those questions, or not answer them as the case may be but then i think even more important was the chance to talk about where we're going in the future. what he would do and what i would do and what he described was in my view a reiteratation of the status quo. he'll keep doing what he's done in the past. he'll have a stimulus. hire more government workers. he's is going to pick winners and losers line solyndra. a friend of mine said no he doesn't like picking winners and lowers he just likes picking losers. and so, of course he's in favor of higher taxes. yesterday the vice president blurted out the truth. he said in fact they do want to raise taxes a trillion dollars. i don't want to raise tax on any americans because i want to create good jobs in america. now, i take america in a very different direction. first of all i want to make sure that our policies enc
that's not right to pay for obama care. and also got point to out that he's in favor of a tax plain that will kill 700,000 jobs. and so he had the chance to answer those questions, or not answer them as the case may be but then i think even more important was the chance to talk about where we're going in the future. what he would do and what i would do and what he described was in my view a reiteratation of the status quo. he'll keep doing what he's done in the past. he'll have a stimulus. hire...
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did president obama just win next month's election? jack welch says hold your horses on that 7.8% number. he doesn't really believe it. an influential florida congressman agrees. we'll talk to that congressman live and ask him on what he bases his suspicions. >>> a place in the united states where gasoline has now become hard for drivers to find. you will find out why coming up on "power lunch." >>> meantime, let's go to sue at the new york stock exchange. sue? >> the markets have been up all day long. we're up about 60 points or so on the dow jones industrial average and the big reason of course is the number that we got this morning, falling unemployment. we are now below the 8% level for the first time in four years. the question is how did we get there? here to explain all of that, our senior economics reporter steve leisman. steve? >> sue, thanks very much. sue, this number is a product of simple math. but whether it's telling us about the real strength of the job market is something investors and the fed are going to have to thin
did president obama just win next month's election? jack welch says hold your horses on that 7.8% number. he doesn't really believe it. an influential florida congressman agrees. we'll talk to that congressman live and ask him on what he bases his suspicions. >>> a place in the united states where gasoline has now become hard for drivers to find. you will find out why coming up on "power lunch." >>> meantime, let's go to sue at the new york stock exchange. sue?...
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so -- >> if president obama asked you to serve the country, what are you going to say? >> i'll be speechless at first. >> but then at some point he's going to give an answer, right? anyway, that's maria talking to larry fink. meanwhile bank of japan policymakers have been meeting. they had some unexpected company, as well. japan's new economics minister raised eye brows when he showed up, the first time the minister has attended the bank of japan decision in almost a decade. he says he respects their independence but wants to bring in a sense of urgency on economic matters. joining us in studio, managing direct information for asia at nomura. stewart, good to see you. can they urgently do anything about the strong yen or not? >> i think it's important to get context here, ross. i mean, if we go back to 1989 when the nikkei hit its high, we're 65% below that level. we've had the best half of 15 years of deflation. so one has to conclude the monetary easing and monetary policy hasn't been the most successful in japan. you contrast that with the u.s. where they only spent
so -- >> if president obama asked you to serve the country, what are you going to say? >> i'll be speechless at first. >> but then at some point he's going to give an answer, right? anyway, that's maria talking to larry fink. meanwhile bank of japan policymakers have been meeting. they had some unexpected company, as well. japan's new economics minister raised eye brows when he showed up, the first time the minister has attended the bank of japan decision in almost a decade....
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if obama wins, we're going to go over the fiscal cliff because the republicans and obama aren't going to agree, we'll go out there and roll back the bush tax cuts, we're going to do this, have sequestered stuff or whatever and so that's going to hurt. >> how would he triangulate if he wins and they lose some of the house, say the democrats keep the senate, how would he triangulate to work with the other side? you don't think he'd let them go for another year or two? >> eventually he's going to have to, but he's going to get pushed into it and things are going to happen that are going to scare the heck out of us before we get there. >> what if romney, how does he screw it up? >> if romney wins it will look like, the stock market is going to say this is great, go up for a little while and people are going to say wait a second, this is austerity. it's going to look like the uk, look like europe. >> because we're 25% of gdp, he's not going to let us stay there, right? >> exactly. >> you'd see many more cuts if he's in, is that good long-term? >> much better long-term. you could argue that
if obama wins, we're going to go over the fiscal cliff because the republicans and obama aren't going to agree, we'll go out there and roll back the bush tax cuts, we're going to do this, have sequestered stuff or whatever and so that's going to hurt. >> how would he triangulate if he wins and they lose some of the house, say the democrats keep the senate, how would he triangulate to work with the other side? you don't think he'd let them go for another year or two? >> eventually...
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mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> as we hit new record mortgage rates, i just sat down with the ce
mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm...
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Oct 1, 2012
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. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on the senate outcome. but wiser minds will see the wisdom of helping the fed in its efforts to stimulate asset prices by not onerously raising taxes on the most important asset class other than homes. >> have you actually calculated a number? you said it would give back some of the rally. but is there a number or a percentage? >> 12-month price target is 1,500. we've written in our research that 1,600 would be a reasonable 2013 end. i need to see an acceleration in global growth. >> contingent on both, not just the tax issue? >> both. somewhere between 1,500 and 1,600. >> david, thank you for being with us. >>
. >> is there a point at which you see obama in the polls and you say actually now i believe that we are going to get the tax hikes and the market should fall? there must be a watershed quite soon as we head towards particularly what happens in the house and the senate. >> our focus has been on the senate. we think that's what's going to mostly influence the outcome. i hope there's appetite to see the rates low. i don't see a benefit from raising them. i would call a coin toss on...
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president obama will visit with students at george mason university in fairfax this morning. while mitt romney will be in coal country at a machinery company in abingdon. the president is looking to get his campaign back on track after what pundits from both sides have called a poor debate performance. and romney will attack the president's energy policies. >> with a second wind from the debate, romney is trying to distance himself from controversial comments caught on hidden camera. romney appeared on the sean hannity show on fox news last night and said his comments about the 47% of americans who don't pay income tax were, quote, just completely wrong. in that video, romney said 47% of americans consider themselves victims and don't take personal responsibility. he originally defended those comments. >>> there is anticipation ahead of september's jobs report. analysts are predicting the economy added 115,000 to 125,000 jobs last month. that's better than the disappointing 96,000 jobs added in august. the unemployment stands at 8.1%. >>> to a developing story. public health
president obama will visit with students at george mason university in fairfax this morning. while mitt romney will be in coal country at a machinery company in abingdon. the president is looking to get his campaign back on track after what pundits from both sides have called a poor debate performance. and romney will attack the president's energy policies. >> with a second wind from the debate, romney is trying to distance himself from controversial comments caught on hidden camera....